HGLB - Highland Global Allocation Fund: Solid Global Value Strategy Fund At A 20% Discount To NAV And A 12% Dividend Yield
A common theme in much of my research is the immense value opportunities that exist today in global and energy-related equities. After having a stellar performance record in the 2000s, these two large segments of the market have underperformed considerably over the past decade.
Over the past decade, commodity production grew at such a high pace that a glut formed and prices crashed, leading to depreciation in energy producers and appreciation in the U.S. dollar. As the U.S. dollar became stronger, foreign equities underperformed and capital-flight to the U.S. has slowed economic growth in previously